Toronto Dominion Bank Boosts Stock Holdings in Kinross Gold Co. (NYSE:KGC)

Toronto Dominion Bank raised its stake in Kinross Gold Co. (NYSE:KGC - Free Report) TSE: K by 115.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,078,490 shares of the mining company's stock after acquiring an additional 1,114,801 shares during the quarter. Toronto Dominion Bank owned approximately 0.17% of Kinross Gold worth $19,455,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in KGC. Geode Capital Management LLC increased its stake in shares of Kinross Gold by 16.9% in the third quarter. Geode Capital Management LLC now owns 5,730,283 shares of the mining company's stock valued at $54,803,000 after buying an additional 828,456 shares during the period. M&T Bank Corp acquired a new position in Kinross Gold in the 3rd quarter valued at approximately $100,000. Public Employees Retirement System of Ohio bought a new position in shares of Kinross Gold during the third quarter valued at $2,056,000. Y Intercept Hong Kong Ltd bought a new position in shares of Kinross Gold during the third quarter valued at $2,410,000. Finally, MML Investors Services LLC acquired a new position in shares of Kinross Gold during the third quarter worth $201,000. 63.69% of the stock is currently owned by institutional investors and hedge funds.

Kinross Gold Trading Down 2.8 %

Shares of KGC stock traded down $0.29 during trading hours on Friday, hitting $9.77. 15,684,307 shares of the company were exchanged, compared to its average volume of 15,492,234. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.63 and a current ratio of 1.61. Kinross Gold Co. has a fifty-two week low of $4.75 and a fifty-two week high of $10.82. The company has a 50 day simple moving average of $9.99 and a two-hundred day simple moving average of $9.13. The firm has a market cap of $12.00 billion, a P/E ratio of 16.00, a P/E/G ratio of 0.47 and a beta of 1.21.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last posted its quarterly earnings results on Tuesday, November 5th. The mining company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.05. The firm had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.32 billion. Kinross Gold had a net margin of 15.23% and a return on equity of 11.49%. The business's revenue was up 29.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.12 earnings per share. Equities analysts anticipate that Kinross Gold Co. will post 0.7 EPS for the current year.

Kinross Gold Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Thursday, November 28th were issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date was Wednesday, November 27th. Kinross Gold's dividend payout ratio is currently 19.67%.

Analyst Upgrades and Downgrades

Several research analysts have commented on KGC shares. Scotiabank lifted their target price on Kinross Gold from $9.50 to $11.00 and gave the stock a "sector outperform" rating in a report on Monday, August 19th. Jefferies Financial Group raised their price target on shares of Kinross Gold from $9.00 to $10.00 and gave the stock a "hold" rating in a report on Friday, October 4th. Finally, StockNews.com upgraded shares of Kinross Gold from a "buy" rating to a "strong-buy" rating in a research report on Saturday, November 9th. One investment analyst has rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $11.13.

Kinross Gold Profile

Kinross Gold Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of gold properties principally in the United States, Brazil, Chile, Canada, and Mauritania. The company operates the Fort Knox mine and the Manh Choh project in Alaska, as well as the Round Mountain and the Bald Mountain mines in Nevada, the United States; the Paracatu mine in Brazil; the La Coipa and the Lobo-Marte project in Chile; the Tasiast mine in Mauritania; and the Great Bear project in Canada.